Koenig & Bauer AG — Earnings Release 2005

May 13, 2005

News Details

Ad-hoc | 13 May 2005 07:59

Koenig & Bauer AG: Big jump in new orders

Ad hoc announcement §15 WpHG Quarterly results Koenig & Bauer AG: Big jump in new orders Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Press manufacturer Koenig & Bauer AG (KBA) has revealed that the inflow of orders in the first quarter surged to EUR382.4m, 23.5% up on the prior year period, with the sheetfed division outclassing all rivals to post a 40.3% jump in bookings to EUR243.9m. New orders for web and special presses lifted 2% to EUR138.5m. Group sales for the quarter totalled EUR311.3m, 20.7% higher than twelve months earlier. Sheetfed sales climbed 16.4% to EUR168.1m, web and special press sales rose 26.2% to EUR143.2m. However, a return to profit in 2004 was followed in the first quarter by a pre-tax loss (EBIT) of EUR4.2m (1st quarter 2004: -EUR3.6m) and a net loss for the quarter of EUR4.8m (2004: -EUR3.9m). This “temporary glitch” was caused by the quarterly turnover, which fell short of annual targets, by higher prices for materials and by poor margins arising from some contracts booked in previous years. Despite the red ink, KBA management has reaffirmed the group’s objective, announced in early April, of boosting sales to around EUR1.5bn (2004: EUR1,423m) and improving pre-tax earnings, which in 2004 totalled EUR15.9m. The gains delivered by cost-cutting initiatives – now completed – at KBA’s web press production facilities and by more flexible labour agreements at all its German operations will soon work through to the bottom line, along with broader profit margins for new presses soon due to ship. KOENIG & BAUER AG Friedrich-Koenig Straße 4 97080 Würzburg Deutschland ISIN: DE0007193500 (SDAX) WKN: 719350 Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Stuttgart End of ad hoc announcement (c)DGAP 13.05.2005 130759 Mai 05